Sapphire Energy is another step closer to bringing algae-based Green Crude Production to commercial scale with additional financing from existing and new investors, including an investment holding company owned by Microsoft Chairman Bill Gates.
The latest investments bring the company’s total funding to substantially more than $100 million, and Sapphire is now financed to scale up its production facilities to full commercial feasibility.
Sapphire Energy uses sunlight, CO2, industrial microorganisms, non-arable land and non-potable water to produce alternatives to common products made from petroleum. Sapphire’s Green Crude is similar to light sweet crude and can be refined into chemically identical fuel products such as gasoline, jet fuel and diesel products entirely compatible with the current energy infrastructure—from pipelines and refineries to cars and airplanes.
Sapphire hopes to achieve initial commercial production capability of 10,000 barrels per day of algae-based oil.